ATI (NYSE:ATI – Get Free Report) issued an update on its second quarter 2024 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of 0.540-0.600 for the period, compared to the consensus estimate of 0.520. The company issued revenue guidance of -. ATI also updated its FY 2024 guidance to 2.300-2.600 EPS.
ATI Stock Down 0.9 %
Shares of ATI stock traded down $0.54 during trading hours on Thursday, hitting $58.31. 1,296,527 shares of the company were exchanged, compared to its average volume of 1,354,791. The company has a debt-to-equity ratio of 1.56, a quick ratio of 1.53 and a current ratio of 2.81. ATI has a one year low of $34.10 and a one year high of $61.58. The business’s 50-day simple moving average is $50.29 and its two-hundred day simple moving average is $45.00. The stock has a market capitalization of $7.26 billion, a price-to-earnings ratio of 23.63, a P/E/G ratio of 1.69 and a beta of 1.16.
ATI (NYSE:ATI – Get Free Report) last issued its quarterly earnings results on Tuesday, April 30th. The basic materials company reported $0.48 EPS for the quarter, topping the consensus estimate of $0.41 by $0.07. ATI had a net margin of 8.70% and a return on equity of 23.72%. The business had revenue of $1.04 billion for the quarter, compared to analysts’ expectations of $1.03 billion. During the same quarter last year, the company posted $0.49 earnings per share. The company’s quarterly revenue was up .5% compared to the same quarter last year. Sell-side analysts predict that ATI will post 2.26 EPS for the current fiscal year.
Wall Street Analyst Weigh In
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Insider Buying and Selling
In related news, VP Timothy J. Harris sold 6,325 shares of the stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $42.44, for a total value of $268,433.00. Following the completion of the sale, the vice president now owns 109,331 shares in the company, valued at $4,640,007.64. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.71% of the company’s stock.
About ATI
ATI Inc produces and sells specialty materials and complex components worldwide. It operates in two segments: High Performance Materials & Components (HPMC) and Advanced Alloys & Solutions (AA&S). The HPMC segment produces various materials, including titanium and titanium-based alloys, nickel- and cobalt-based alloys and superalloys, metallic powder alloys, advanced powder alloys and other specialty materials, in long product forms, such as ingot, billet, bar, rod, wire, shapes and rectangles, and seamless tubes, as well as precision forgings, components, and machined parts.
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